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Negotiating compensation for employees

On Behalf of | Jun 5, 2023 | Workers' Compensation

The climate for employees in Rhode Island to negotiate the terms of their compensation is uniquely favorable. This is partly due to a number of conditions that have obtained in the wake of the recent pandemic. Unemployment rates are low following a regrouping of the national economy. The rate of increase in new hires has also very nearly doubled.

When should you ask to negotiate?

There are a number of conditions under which you may reasonably consider negotiating matters such as workers’ compensation and others. One of the simplest modes of consideration is whether or not you get along well with your boss. Do your managers, supervisors, or company owners think well of you? If the answer is yes, you may leverage your level of personal appeal to get a better deal.

Of course, other considerations may come into play. How high is the level of your performance and general productivity compared to that of your fellow workers? Do you consistently go above and beyond what is expected of you? If you have been recognized in the recent past for achievements, your case may be a strong one.

How to prepare for a negotiation

Negotiating your workers’ compensation and other benefits in Rhode Island takes finesse. You’re more likely to get positive results if you give yourself a bit of leverage. For example, if you have interest from another employer, you may be able to use it as a potential bargaining chip.

Once you have begun negotiations with another employer, you should move to minimize any potential risks. If you receive an offer that seems final, ask if this so. Remember that an offer negotiated in pleasant tones is more likely to prove agreeable.